Tariff Status
Canada
Update as of 2/3:
— President Trump and Canadian Prime Minister Trudeau have also agreed to mutually pause the 25% tariffs on Canadian and U.S. imports for 30 days
–The pause will allow for bilateral negotiations focused on trade and security measures
Mexico
Update as of 2/3:
— President Trump and Mexican President Sheinbaum have agreed to pause the 25% tariffs on Mexican imports for 30 days
–The pause will allow for bilateral negotiations focused on trade and security measures
China
Update as of 2/3:
— No changes have been announced to the planned 10% tariff increase
— The White House reports an upcoming call between President Trump and Chinese President Xi Jinping will take place in the next few days
— Until further notice, assume the additional 10% tariffs will take effect at 12:01 AM tonight
— We have received additional details from U.S. Customs and Border Protection regarding the implementation and harmonization of the new tariff schedule, as well as details regarding the removal of the $800 de minimis exemption:
> Information on the implementation and harmonization of the tariff schedule can be found HERE
> Information on the de minimis exemption removal can be found HERE
Recommended Steps
- Document all shipments currently in transit
- Record cargo loading dates and times
- Review supply chain exposure
- Prepare for potential customs processing changes
- Consider supply chain alternatives where feasible
Next Steps
- SFIA will continue to monitor and share updates as they are available
- Stay tuned for an upcoming SFIA webinar to discuss this evolving situation